Total Nigeria Plc full year results for the period ended Dec. 31st 2017 was released to the market on Friday’s evening (Feb. 23rd, 2018).
Petroleum products’ contribution to revenue dropped to 83.5% compared to 86.65% posted in 2016, while Lubricants & other products contribution grew by 16.5% against 13.4% posted in 2016.
Finance cost spiked by 257.94% as a result of an increase in the cost (19.0%) of servicing an overdraft obtained in 2016 at 14.1%.
Total’s Acid Test ratio is low at current 0.58x, impairing its short-term’s obligations, though could be compensated by existing inventories. A final dividend of N14 has been proposed resulting to a dividend yield of 6.45% at the market price of N217 on Monday, February 26th.
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